TIPB vs. GSG

Last updated Jun 4, 2026

TIPB (Northern Trust 2035 Inflation-Linked Distributing Ladder ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - TIPB is a Inflation-Protected Bonds fund actively managed by Northern Trust, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. TIPB is actively managed, while GSG is passively managed. At a correlation of -0.06, they often move in opposite directions.

Performance

TIPB vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2035 Inflation-Linked Distributing Ladder ETF (TIPB) and iShares S&P GSCI Commodity-Indexed Trust (GSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIPB achieves a 1.86% return, which is significantly lower than GSG's 42.58% return.

TIPB

• 1D: -0.12%
• 1M: -0.22%
• YTD: 1.86%
• 6M: 1.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSG

• 1D: 0.77%
• 1M: -4.83%
• YTD: 42.58%
• 6M: 41.06%
• 1Y: 51.52%
• 3Y*: 19.31%
• 5Y*: 15.74%
• 10Y*: 7.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TIPB vs. GSG - Yearly Performance Comparison

	2026 (YTD)	2025
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	1.86%	0.79%
GSG iShares S&P GSCI Commodity-Indexed Trust	42.58%	4.53%

Correlation

The correlation between TIPB and GSG is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025	-0.06

Return for Risk

TIPB vs. GSG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GSG

GSG Risk / Return Rank: 71
GSG Sharpe Ratio Rank: 67
GSG Sortino Ratio Rank: 60
GSG Omega Ratio Rank: 65
GSG Calmar Ratio Rank: 89
GSG Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TIPB vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2035 Inflation-Linked Distributing Ladder ETF (TIPB) and iShares S&P GSCI Commodity-Indexed Trust (GSG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TIPB	GSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	-0.09	+1.43

Drawdowns

TIPB vs. GSG - Drawdown Comparison

The maximum TIPB drawdown since its inception was -1.32%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for TIPB and GSG.

Drawdown Indicators

	TIPB	GSG	Difference
Max Drawdown Largest peak-to-trough decline	-1.32%	-89.62%	+88.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.46%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.64%	—
Current Drawdown Current decline from peak	-0.31%	-56.95%	+56.64%
Average Drawdown Average peak-to-trough decline	-0.37%	-63.71%	+63.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.59%	—

Volatility

Volatility by Period

	TIPB	GSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.65%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.54%	22.95%	-20.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.54%	22.61%	-20.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.54%	22.03%	-19.49%

Dividends

TIPB vs. GSG - Dividend Comparison

TIPB's dividend yield for the trailing twelve months is around 3.02%, while GSG has not paid dividends to shareholders.

Position	TTM	2025
GSG iShares S&P GSCI Commodity-Indexed Trust	0.00%	0.00%
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	3.02%	1.09%

Frequently Asked Questions

Can I hold both TIPB and GSG in my portfolio?

TIPB and GSG have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, TIPB or GSG?

TIPB has the higher dividend yield at 3.02%, compared with 0.00% for GSG.

What is the main difference between TIPB and GSG?

TIPB is categorized as Inflation-Protected Bonds, while GSG is Commodities. They also come from different issuers: Northern Trust and iShares.